Title
Consider entering into a Sponsorship Agreement with the South Baldwin Chamber of Commerce
Summary
DESCRIPTION OF TOPIC: (who, what, when, where, why, and how much)
The Chamber would like to continue hosting the Gulf Coast Hot Air Balloon Festival but has some concerns if a catastrophic event (Act of God) occurred and the event had to be cancelled. The City would like to continue the Festival as it brings in thousands of people, which stimulates the economy. In an effort to continue the event a Sponsorship Agreement has been drafted for a period of three years for a total sum of $50,000 per year in which the City will continue to provide in-kind services similar to the previous balloon festivals and agrees to assist the Chamber with financial burdens if the event is cancelled due to a catastrophic event for that year's event. The Chamber will provide senior level leadership, guidance, and direction for the festival and be solely responsible for providing supervision at the festival, event management, marketing, sponsorship oversight, content selections, and related functions.
SOURCE OF FUNDING:
Please provide the amount requested: No Additional Funding required.
Is this a budgeted item? No Yes
Please provide the budgeted amount: $_____________ Account No. Various (See Section 3)
If budgeted, is this a capital purchase, capital project, or special fund? _________________________
Was this item included in the Fiscal Year Capital Projects Plan? Yes/No
If yes, please provide the amount included in Capital Projects Plan: $___________
Body
WHEREAS, the South Baldwin Chamber of Commerce desires to continue hosting the Gulf Coast Hot Air Balloon Festival, and
WHEREAS, the City of Foley acknowledges that the Festival brings in thousands of visitors, which stimulates the economy, and
WHEREAS, the Chamber will continue to be responsible to senior level leadership, guidance, and direction for the festival and be solely responsible for providing supervision at the festival, event management, marketing, sponsorship oversight, content selections, and related functions and
WHEREAS, the City will continue to provide in-kind services similar to previous balloon festivals and further agrees to financially assist the Chamber if a catastrophic event (Act of God) occurs in any year within the term of the Sponsorship Agreement that causes the Gulf Coast Hot Air Balloon Festival to be cancelled.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Authorizes the Mayor to enter into a Sponsorship Agreement with the South Baldwin Chamber of Commerce for a period of three years beginning October 1, 2014 and ending September 30, 2017 in an amount of $50,000 per year.
SECTION 2: Agrees that in the event of a catastrophic event (Act of God) the City shall financially assist to cover the costs of funds expended for the Festival in any current fiscal year's event in an effort to keep the Chamber solvent. The Chamber shall provide the City of Foley Finance Department with a detailed reporting of expenses, to include copies of receipts detailing the costs incurred during that fiscal year. This does not include the expenses of the everyday running of the Chamber. The Chamber shall permit an audit of its books and records by duly authorized representatives. The Sponsorship Agreement is hereby made a permanent part of this resolution upon its adoption.
SECTION 3: Budgetary adjustments in support of the Chamber hosting the event instead of the City are as follows: Removal of Balloon Fest revenue of $161,000 from account 01-5157; Removal of the Marketing Department's Balloon Fest expense of $203,000 from account 01-625-8145; Title change to General Government account 01-620-8120 to Balloon Fest Sponsorship/Expense and increase of $24,000 ($51,500 total), to include $1,500 for incidental expense related to the festival. Net budgetary impact of positive $18,000.
SECTION 4: This Resolution shall become effective immediately upon its adoption as required by law.